DALLAS — KeyBank Real Estate Capital has provided a $55.2 million loan for the acquisition of a portfolio of 10 Class A industrial buildings in four metro Dallas industrial parks. The 1.5 million-square-foot portfolio, which is 97 percent occupied, includes 39 tenants. Financing was structured as a non-recourse, fixed-rate balance sheet first mortgage and placed with a third party investor.
Texas
HOUSTON — Coldwell Banker Commercial United has arranged the sale of nine acres of land located at 13108 and 13110 Garrett Road in Houston. Andrew Wupper with Coldwell represented the seller and Denise Ksiazek of Cypressbrook Management Co. represented the buyer.
PLANO, TEXAS — The Dallas-Fort Worth office of Colliers International assisted a group of tenant-in-common (TIC) owners, represented by First Guardian Group, with the sale of a three-building industrial portfolio in Plano. Cobalt Capital Partners bought the property. Two of the buildings are located at 3301 and 3501 E. Plano Pkwy., while the other building is located at 1100 Klein Road. The properties together are known as Plano Tech Center and total 257,864 square feet of office and warehouse space. Lizzy Blake and the capital markets team at Colliers worked on the transaction.
DALLAS — CBRE has brokered the sale of the DB Schenker logistics campus on behalf of an undisclosed seller. An anonymous buyer purchased the 202,140-square-foot, two-building complex. It is 100 percent leased to DB Schenker, a wholly owned subsidiary of Deutsche Bahn AG. The tenant has five years remaining on its lease. The campus was built in 2008 with a clear height of 30 feet. The campus is located in the DFW Airport submarket and is on a ground lease expiring in 2048. The location provides access to the metroplex via Highway 635 and State Highways 121 and 114.
DALLAS — Agellan Commercial REIT has completed the sale of 5800 W. Kiest Blvd. in Dallas to a third-party purchaser. The property, Kiest Distribution Center, is a single-tenant building containing 343,617 square feet. It is 100 percent leased to RSI Home Products Manufacturing Inc. with 2.8 years left on the lease. The sales price was $11.6 million before closing costs, representing an in-place capitalization rate of 7.4 percent. The sales price is an increase of $1.6 million, or 16 percent, from the price paid by the REIT when it bought the property in January 2013.
HARLINGEN, TEXAS — Strategic Behavioral Health will begin construction on Palms Behavioral Health, a 72-bed acute behavioral health hospital, on Aug. 28 in Harlingen. The company already operates a behavioral health hospital in College Station and in other locations around the country. The hospital is expected to bring about 200 new jobs to the area, part of metro Brownsville in far south Texas. The hospital will employ psychiatrists, psychologists, therapists and nurses treating patients with depression, anxiety, grief and personal crisis situations. The 52,000-square-foot hospital will serve all ages. It is expected to open in late 2015 at a cost of $12 million.
DALLAS — Marcus & Millichap has arranged the sale of Skillman Apartments, a 12-unit property in Dallas. Stephen Crittenden, William Jarnagin and Michael Ware marketed the property on behalf of the seller, a private investor. The three also procured the buyer, another private investor. Skillman Apartments is located at 811 Skillman St. in Dallas, just off Gaston Avenue. The property was built in 1961.
FRISCO, TEXAS — Behringer and PegasusAblon have formed a joint venture to develop The Ablon at Frisco Square. The 275-unit apartment complex will be located in Frisco Square, a mixed-use area north of Dallas. PegasusAblon, the venture’s general partner, will develop the property, which is expected to be finished in late 2015. Amenities will include a clubhouse, pool, outdoor kitchen and gym. Frisco Square is located at the intersection of the Dallas north Tollway and FM 720 and is home to restaurants and entertainment options, apartments and a medical center. Toyota Stadium, home of the FC Dallas professional soccer team, is also located in Frisco Square.
OKLAHOMA CITY — TierPoint is set to begin construction of a new 69,000-square-foot data center in Oklahoma City. The new data center will be built on TierPoint’s 15-acre campus and is expected to open in summer 2015. The center will be the largest of three TierPoint facilities in Oklahoma, adding 30,000 square feet of raised floor space. TierPoint already operates a 22,000-square-foot facility in Oklahoma City and another data center in Tulsa. Security at the new data center will include 24-hour onsite personnel, BioMetrics, proximity sensors and cameras.
AUSTIN — Texas American Resources LLC has sold its south Texas properties to an undisclosed buyer for $135 million. The sale includes the company’s existing production, reserves and Eagle Ford and Austin Chalk oil development opportunities on its 55,000 acres of leasehold in Dimmit, Frio, La Salle and Zavala counties. The company plans to use the proceeds from the sale to repay debt, flow back equity to its partners and accelerate development on its Texas Panhandle assets.